[eastbay]

... 10 to 11 billion barrels... wow, close, but no cigar. By the time they get it going it'll satisfy about 11 weeks of world oil demand. It's chump change folks. And it's the best find in years anywhere. The End Is Near.

[Starvid]

Well, it's not chump change. It's about 0,5 % of all the oil in the world (oil sands etc not included).

And who knows, maybe there is some truth in the argument that there is still lots of oil to find in the countries with highly regulated oil sectors, like Saudi Arabia.

The relevant question is: are we going to bet everything on that theory being correct?

[Eli]

So this what we are left with, a great new oil find that is out in the deep water of the Gulf of Mexico.

That should be easy as pie to get at, they just need to engineer a system that can withstand a category 5 + super hurricane. No problem.

As an oil executive that is exactly what I would want to do, rush out invest billions, and hope against hope that it all does not end up sinking to the bottom of the GoM.

The tower of Babble comes to my mind. The last desperate attempts of mankind to try and control the world in which he lives, only to watch his best efforts destroyed before his eyes.

[Ibon]

$this->bbcode_second_pass_quote('kochevnik', ':')!:

Something is REALLY, REALLY rotten in the state of Mexico.

[Leanan]

$this->bbcode_second_pass_quote('', 'S')o wonderfully convenient for them to find a 'replacement' at EXACTLY the same time the main field is becoming greatly depleted.

[Bleep]

$this->bbcode_second_pass_quote('Eli', 'A')s an oil executive that is exactly what I would want to do, rush out invest billions, and hope against hope that it all does not end up sinking to the bottom of the GoM.

[frankthetank]

Bus system around Cancun costs 6.5 Pesos...less then 65cents US, and there are a TON of buses that'll take you from Downtown to all the way to the bottom of the 7.

I had a Mexican tell me that I "feed his family"...not sure how that works...i bet most of what i spent went to some corporate bigwigs who knows where.

[Bleep]

Let's look at how much deep water Gulf of Mexico oil the Thunder Horse platform produced.
$this->bbcode_second_pass_quote('', '[')url=http://www.bp.com/extendedgenericarticle.do?categoryId=2012968&contentId=7007227]BP Assessing Damage to Thunder Horse Platform in Gulf of Mexico (link)[/url]

Release date: 12 July 2005

HOUSTON (July 11, 2005)- BP today confirmed that the Thunder Horse semi-submersible platform, located in Mississippi Canyon Block 778 in the deepwater Gulf of Mexico, 150 miles southeast of New Orleans, is listing following the passing of Hurricane Dennis. Early reports confirmed that the platform is listing an estimated 20 - 30 degrees. The Thunder Horse field is in development and has not yet begun production of hydrocarbons.

[Bleep]

$this->bbcode_second_pass_quote('', '[')url=http://www.bp.com/genericarticle.do?categoryId=9004519&contentId=7009088]
First production in 2006 (link)[/url]

Originally scheduled for start of production by year-end 2005, first oil at the world’s largest floating platform has been delayed until the second half of 2006 as crews repair damage caused by flooding when the platform developed a serious list after it was evacuated as Hurricane Dennis approached in July 2005. Workers are also correcting defects in the platform’s ballast, bilge and fire water systems after incident investigators determined the failure of key valves allowed ballast water to shift within the platform, causing it to lean. The Thunder Horse platform subsequently weathered near hits by Hurricanes Katrina and Rita.

...

Platform production rating: 250,000 barrels of oil per day; 200 million cubic feet of gas per day

[nth]

ThunderHorse is not producing yet the last I heard.

This find and many more large fields will be discover in the next 20 years. I doubt any will be bigger than 20gb, but probably a handful will be around 10gb, while most will be in the 100+mb.

This field does not refute PO, but it does put a big dent on people who claim PO is in 2005.

[Leanan]

$this->bbcode_second_pass_quote('', 'T')his field does not refute PO, but it does put a big dent on people who claim PO is in 2005.

[bruin]

$this->bbcode_second_pass_quote('nth', 'T')hunderHorse is not producing yet the last I heard.

This find and many more large fields will be discover in the next 20 years. I doubt any will be bigger than 20gb, but probably a handful will be around 10gb, while most will be in the 100+mb.

This field does not refute PO, but it does put a big dent on people who claim PO is in 2005.

[Bleep]

$this->bbcode_second_pass_quote('nth', 'T')his field does not refute PO, but it does put a big dent on people who claim PO is in 2005.

[nth]

$this->bbcode_second_pass_quote('Leanan', '')$this->bbcode_second_pass_quote('', 'T')his field does not refute PO, but it does put a big dent on people who claim PO is in 2005.

[Dreamtwister]

$this->bbcode_second_pass_quote('linlithgowoil', 'W')hy do people say that - defining it in how many days consumption it provides? It is nonsense. A field that size would produce for decades at impressive flow rates, so i've no idea why comparing it to how many days consumption it would provide.

[AirlinePilot]

Why isnt this getting more play? Something potentially this big I would think we would see and hear a lot more about. Is there anything to this? Seems like a big find unless its just more speculation on PEMEX's part.

Can't seem to find much about it.

[nth]

$this->bbcode_second_pass_quote('bruin', '')$this->bbcode_second_pass_quote('nth', 'T')hunderHorse is not producing yet the last I heard.

This find and many more large fields will be discover in the next 20 years. I doubt any will be bigger than 20gb, but probably a handful will be around 10gb, while most will be in the 100+mb.

This field does not refute PO, but it does put a big dent on people who claim PO is in 2005.

[nth]

$this->bbcode_second_pass_quote('Bleep', '')$this->bbcode_second_pass_quote('nth', 'T')his field does not refute PO, but it does put a big dent on people who claim PO is in 2005.

[Bleep]

$this->bbcode_second_pass_quote('nth', 'T')hunderhorse is only going to produce 200kmpd. I doubt it plays a big role in PO.

[Leanan]

$this->bbcode_second_pass_quote('', 'O')f course, Deffeyes ain't wrong until oil production surpasses 2005 numbers. Which from what I have seen will definitely happen, but we will need to wait.